Bonia adopts new dividend policy

KUALA LUMPUR: Bonia Corp Bhd’s board of directors has adopted a dividend policy to pay at least 30% out of its consolidated profits after taxation attributable to shareholders available in each financial year.

In a filing with Bursa Malaysia, Bonia said the new policy will commence from the financial year ending 2023.

It said the declaration of interim dividends and/or the recommendation of final dividends are subject to the confirmation of the Board and to any applicable law and contractual obligations provided that such distributions would not be detrimental to the cash needs of the company or to any plans approved by the board.

It added that any final dividend for a financial year is subject to shareholders’ approval.

The board has approved and declared a single tier interim dividend of 2.00 sen per ordinary share for the financial year ending June 30, 2022 (FY22).

This results in a total dividend declared for the current FY22 of 7.00 sen per ordinary share as at the date of this report (3Q2021: 4.00 sen per ordinary share).

For the first nine months to March 31, Bonia posted a net profit of RM27.1mil on revenue of RM231.87mil.